December 8, 2021

Principles and Practices of Information Systems - Ralph M. Stair and George W. Reynolds




Principles of Information Systems, 12th Edition © 2016 | Published
Ralph M. Stair Professor Emeritus, Florida State University
George Reynolds Strayer University
ISBN-10: 1285867165  |  ISBN-13: 9781285867168
752 Pages
List Price = $ 319.95





Chapter 1 An Introduction to Information Systems

(More detailed summary of the chapter: http://nraomtr.blogspot.com/2016/03/an-introduction-to-information-systems.html)
Principle:
The value of information is directly linked to how it helps decision makers achieve the organization’s
goals.


Data consists of raw facts; information is data transformed into a meaningful form. The process of defining relationships among data requires knowledge. Knowledge is an awareness and understanding of a set of information and the way that information can support a specific task.

To be valuable, information must have several characteristics: it should be accurate, complete,
economical to produce, flexible, reliable, relevant, simple to understand, timely, verifiable, accessible, and secure. The value of information is directly linked to how it helps people
achieve their organizations’ goals.

Principle:
Models, computers, and information systems are constantly making it possible for organizations to improve the way they conduct business.

Principle:
Knowing the potential impact of information systems and having the ability to put this knowledge to work can result in a successful personal career, organizations that reach their goals, and a society with a higher quality of life.

Principle:
System users, business managers, and information systems professionals must work together to build a successful information system.




Chapter: Organizations and Role of  Information Systems

(More detailed summary of the chapter: http://nraomtr.blogspot.com/2016/03/information-systems-in-organisations.html)
Computers and information systems help make it possible for organizations to improve the way they
conduct business.

Principle:
The use of information systems to add value to the organization is strongly influenced by organizational structure, culture, and change.



Organizations use information systems to support their goals. System performance is measured by its efficiency and effectiveness. Efficiency is a measure of what is produced divided by what is consumed; effectiveness measures the extent to which a system achieves its goals. A systems performance standard is a specific objective.

An organization is a formal collection of people and other resources established to accomplish a set of goals.

Organizations are systems with inputs, transformation mechanisms, and outputs. Value-added processes increase the relative worth of the combined inputs on their way to becoming final
outputs of the organization. The value chain is a series (chain) of activities that includes (1) inbound logistics, (2) warehouse and storage, (3) production, (4) finished product storage, (5)
outbound logistics, (6) marketing and sales, and (7) customer service.

Organizational structure refers to how organizational subunits relate to the overall organization. Several basic organizational structures include traditional, project, team, and virtual.


Organizational culture consists of the major understandings and assumptions for a business, corporation, or organization.

Organizational change deals with how organizations plan for, implement, and handle change. Change
can be caused by internal or external factors. The stages of the change model are unfreezing, moving, and refreezing. According to the concept of organizational learning, organizations adapt
to new conditions or alter practices over time.


Principle:
Because information systems are so important, businesses need to be sure that improvements or completely new systems help lower costs, increase profits, improve service, or achieve a competitive advantage.


Business process reengineering,  Continuous improvement,  Total quality management are improvement initiatives.  Six Sigma is often used in quality control. It is based on a statistical term that means 99.9997 percent of the time, products and services will meet quality standards. Companies can achieve this quality level by repeatedly applying six sigma technique with additional inputs from their understanding of the system inputs.



Developing information systems that measure and control productivity is a key element for most organizations. A useful measure of the value of an IS project is return on investment (ROI). This measure investigates the additional profits or benefits that are generated as a percentage of the investment in IS technology. Total cost of ownership (TCO) can also be a useful measure.


Principle:
Information systems must be applied thoughtfully and carefully so that society, businesses, and
industries can reap their enormous benefits.


Systems development involves creating or modifying existing business systems. The major steps of this process and their goals are systems investigation (gain a clear understanding of what the problem is), systems analysis (define what the system must do to solve the problem), systems design (determine exactly how the system will work to meet the business needs), systems implementation (create or acquire the various system components defined in the design step), and systems maintenance and review (maintain and then modify the system so that it continues to meet changing business needs).

 Effective information systems can have a major impact on corporate strategy and organizational success. Businesses around the globe are enjoying better safety and service, greater efficiency and effectiveness, reduced expenses, and improved decision making and control because of information systems. Changes in society as a result of increased international trade and cultural exchange due
to globalization have always had a significant impact on organizations and their information systems. These opportunities, however, introduce numerous obstacles and issues, including challenges involving culture and language.

Principle:

Information systems personnel are the key to unlocking the potential of any new or modified system.


Chapter Hardware and Software



Hardware

Computer hardware must be carefully selected to meet the evolving needs of the organization and its
supporting information systems.

The computer hardware industry and users are implementing green computing designs and products.

Principle:

Assembling an effective, efficient computer system requires an understanding of its relationship to the information system and the organization. The computer system objectives are subordinate to, but supportive of the information system and the organization.

Principle:

When selecting computer devices, you also must consider the current and future needs of the information system and the organization. Your choice of a particular computer system device should always allow for later improvements.


Software


Principle:

Systems and application software are critical in helping individuals and organizations achieve their
goals.

Principle:

Organizations should not develop proprietary application software unless doing so will meet a compelling business need that can provide a competitive advantage.

Principle:

Organizations should choose a programming language whose functional characteristics are
appropriate for the task at hand, considering the skills and experience of the programming staff.

Principle:

The software industry continues to undergo constant change; users (and application system developers) need to be aware of recent trends and issues to be effective in their business and personal life.


Read: Principles of Software Engineering

Chapter Organizing Data and Information


Principle:
The database approach to data management provides significant advantages over the traditional file-based approach


Principle:
A well designed and well managed database is an extremely valuable tool in supporting decision making.


Principle:
Further improvements in the use of database technology will continue to evolve  and yield real business benefits


Chapter: Telecommunications and Networks

Principles:

Principle:
Effective communications is essential to organizational success.

Principle:
An unmistakable trend of communication technologies is that more people are able to send and receive all forms of information over greater distances at a faster rate.

Principle:
The effective use of telecommunications and networks can turn a company into an agile, powerful, and creative organization, giving it a long-term competitive advantage.


Chapter: The Internet, Intranets, and Extranets

Principles:

The internet is like many other new technologies-it provides a wide range of services, some of which are effective and practical for use today, others of which are still evolving, and still others of which will fade away from lack of use.

Before the internet becomes universally used and accepted for business use, management issues, service bottlenecks, and privacy and security issues must be addressed and solved.


Chapter. Electronic Commerce

Principles:

E-commerce is a new way of conducting business, and as with any other new application of technology, it presents both opportunities for improvement and potential problems.

E-commerce requires the careful planning and integration of a number of technology infrastructure components.

Users of the new e-commerce technology must take safeguards to protect themselves.

Organizations must define and execute a strategy to be successful in e-commerce.


Chapter: Transaction Processing and Enterprise Resource Planning Systems

Principles:

An organization's TPS must support the routine, day-to-day activities that occur in the normal course of business and help a company add value to its products and services.

Implementation of an enterprise resource planning system enables a company to achieve numerous business benefits through the creation of a highly integrated set of systems.

(More detailed coverage: http://nraomtr.blogspot.com//2016/03/transaction-processing-and-erp-systems.html )

Chapter: Information and Decision Support Systems

Principles:

The Management information system (MIS) must provide the right information to the right person in the right fashion at the right time.

Decision support systems are used (DSSs) when the problems are more unstructured.

Specialized support systems, such as group decision support systems (GDSSs) and executive support systems (ESSs), use the overall approach of a DSS in situations such as group and executive decision making.

Chapter: Specialized Business Information Systems: Artificial Intelligence, Expert Systems, and Virtual Reality

Principles:

Artificial intelligence systems form a broad and diverse set of systems that can replicate human decision making for certain types of well-defined problems.

Expert systems can enable a novice to perform at the level of an expert but must be developed and maintained very carefully.

Virtual reality systems have the potential to reshape the interface between people and information technology by offering new ways to communicate information, visualize processes, and express ideas creatively.

Chapter: System Investigation and Analysis

Principles:

Effective systems development requires a team effort of stake holders, users, managers, systems development specialists, and various support personnel and it starts with careful planning.

Systems development often uses tools to select, implement, and monitor projects, including net present value (NPV), prototyping, and  rapid application development.

Systems development starts with investigation and analysis of existing systems.

Chapter: Systems Design, Implementation, Maintenance, and Review

Principles:

Designing new systems or modifying existing ones should always be aimed at helping an organization achieve its goals.

The primary emphasis of system implementation is to make sure that the right information is delivered to the right person in the format at the right time.

Maintenance and review add to the useful life of a system but can consume large amounts of resources. These activities can benefit from the same project management techniques applied to systems development.


The primary result of the systems design phase is a technical design that details system outputs, inputs, and user interfaces; specifies hardware, software, databases, telecommunications, personnel, and procedures; and shows how these components are related. The new or modified system should take advantage of the latest developments in technology.

System design has two dimensions: logical and physical. The logical design refers to what the system will do. It describes the functional requirements of a system. Without logical design, the technical details of the system (such as which hardware devices should be acquired) cannot be made in the best way.  Logical design involves planning the purpose of each system element, independent of hardware and software considerations. The logical design specifications that are determined and documented include output, input, process, file and database, telecommunications, procedures, controls and security, and
personnel and job requirements.

Physical design specifies the characteristics of the system components necessary to put the logical design into action. In physical system design,  the characteristics of the hardware, software, database, telecommunications, personnel, and procedure and control specifications must be described in detail.

The Systems Design Report
System specifications are the final results of systems design. They include a technical description that details system outputs, inputs, and user interfaces as well as all hardware, software, databases, telecommunications, personnel, and procedure components and the way these components are related. The specifications are contained in a design report, which is the primary result of systems design. The design report reflects the decisions made for systems design and prepares the way for systems implementation.


Systems Design Report - Important Topics

Review of Systems Analysis 
Major Design Recommendation

Hardware design
Software design
Personnel design
Communications design
Database design
Procedures design
Training design
Maintenance design



Chapter: Information Systems in Business and Society.

Principles:

Policies and procedures must be established to avoid computer waste and mistakes.

Computer crime is a serious and rapidly growing area of concern requiring management attention.

Jobs equipment and working conditions must be designed to avoid negative health effects.








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Philip Kolter's Marketing Quotes

 




Marketing remains the business activity that identifies an organization's customer needs and wants, determines which target markets it can serve best and designs appropriate products, services and programmes to serve these markets.


 The goal of marketing is to create customer satisfaction profitably by building valued relationships with customers.


Marketing calls upon everyone in the organization to 'think customer' and to do all that they can to help create and deliver superior customer value and satisfaction.


Organizations gain market leadership by understanding customer needs and finding solutions that delight through superior value, quality and service.


Creating customer value and satisfaction are at the very heart of modern marketing thinking and practice.


 'The aim of marketing is to make selling superfluous. The aim is to know and understand the customer so well that the product or service fits ... and sells itself.'


 A human need is a state of felt deprivation. Humans have many complex needs. These include basic physical needs for food, clothing, warmth and safety; social needs for belonging and affection; and individual needs for knowledge and self-expression.


Understanding customer needs, wants and demands in detail provides important input for designing marketing strategies.


People satisfy their needs and wants with products. A product is anything that can he offered to a market to satisfy a need or want.


Customer value is the difference between the values the customer gains from owning and using a product and the costs of obtaining the product.


 "If the customer doesn't like it. it's a defect".


We define marketing management as the analysis, planning, implementation and control of programmes designed to create, build and maintain beneficial exchanges with target buyers for the purpose of achieving organizational objectives. Thus, marketing management involves managing demand, which in turn involves managing customer relationships.


The marketing concept holds that achieving organizational goals depends on determining the needs and wants of target markets and delivering the desired satisfactions more effectively and efficiently than competitors do.


The societal marketing concept holds that the organization should determine the needs, wants and interests of target markets. It should then deliver the desired satisfactions more effectively and efficiently than competitors in a way that maintains or improves the consumer's and the society's well-being.


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December 5, 2021

The Strategic Management Process - Review Notes

Online MBA Management Theory Handbook 




The tasks of developing  and executing company strategies are the heart and soul of managing a business enterprise and winning in the marketplace.

A company's strategy is the plan management is using to acquire a market position (market strategy) and conduct its operations by acquiring resources and developing them (resource based view). This involves attracting and pleasing customers, competing successfully against and the current and future rivals, and achieving organizational objectives.

The central thrust of a company's strategy is undertaking moves to build and strengthen the company's long-term competitive position in its chose target market segments as well as in the overall market and  gain a competitive advantage over rivals that then becomes a company's ticket to above-average profitability and performance. A company's strategy typically evolves over time as a blend of (1) proactive and purposeful actions on the part of company managers and (2) as-needed reactions to unanticipated developments and fresh market conditions.

Closely related to the concept of strategy is the concept of a company's business model.

Business Model


A company's business model is management's story line for how and why the company's product offerings and competitive approaches will generate a revenue stream and have an associated cost structure that produces attractive earnings and return on investment—in effect, a company's business model sets forth the economic logic for making money in a particular business, given the company's current strategy.  Business model must have a demand model, that explains how the company's product or products sell a particular quantity at a particular price. The model has to satisfy the criterion that as price increases demand decreases for each product. The cost model is also a part of the business model. It tells how a particular quantity of a product is produced and distributed at a particular cost. Thus profit is determined from the demand model and cost model for a specified price. The company then has the option to select a price that maximizes the profit or a price that maximizes the demand given a minimum profit to be achieved.

A winning strategy fits the circumstances of a company's external situation and its internal resource strengths and competitive capabilities, builds competitive advantage, and boosts company performance.

Crafting and executing strategy are core management functions and especially the core top management functions in an organization. Whether a company wins or loses in the marketplace is directly attributable to the potential of that company's strategy and the zeal and controls with which the strategy is executed.

Managerial Process



The managerial process of crafting and executing a company's strategy consists of five interrelated and integrated phases:

Developing a Strategic Vision


Developing a strategic vision of where the company needs to head and what its future product/market/technology focus should be. This managerial step provides long-term direction, infuses the organization with a sense of purposeful action.

Objectives


Objectives are derived from the  strategic mission and  vision and larger in number and they address the aspirations of all the stakeholders. Goals spell out how much of what kind of performance by when. Companies need to both financial objectives and goals and strategic objectives and goals. A balanced scorecard approach provides the basis for both.

Crafting Strategy


Crafting a strategy to achieve the objectives and move the company along the strategic course that management has charted. Crafting strategy is concerned principally with forming responses to changes under way in the external environment, devising competitive moves and market approaches aimed at producing sustainable competitive advantage, building competitively valuable competencies and capabilities, and uniting the strategic actions initiated in various parts of the company. 

The task of developing a strategy together entails addressing a series of “hows”: 
  • how to attract and please customers, 
  • how to compete against rivals, 
  • how to position the company in the marketplace, 
  • how to respond to changing market conditions, 
  • how to capitalize on attractive opportunities to grow the business, and 
  • how to achieve strategic and financial objectives.


The more that a company's operations cut across different products, industries, and geographical areas, the more that strategy making becomes a collaborative effort involving managers and company personnel at many organizational levels. The total strategy that emerges in such companies is really a collection of strategic actions and business approaches initiated partly by senior company executives, partly by the heads of major business divisions, partly by functional-area managers, and partly by operating managers on the frontlines.

The larger and more diverse the operations of an enterprise, the more points of strategic initiative it has and the more managers and employees at more levels of management that have a relevant strategy-making role.

Examples Large Number Employed in Strategy Development: Electronic Data Systems has 55,000 employees. In its year long strategy review, it involved 2,500 employees and the review was coordinated by 150 managers and staffers.  J.M. Smucker Company (in jams and jellies business) has 1400 employees. It used a team of 140 employees who spent 25 percent time over a six-month period to develop strategies to increase growth of the business. Such an involvement of large number of employees helps during strategy execution, as many will commit themselves to the pieces of strategy developed by them and got incorporated in the final strategy. They feel accountable to make it work.

Three Levels of Strategy


A single-business enterprise has three levels of strategy—business strategy for the company as a whole, functional-area strategies for each main area within the business, and operating strategies undertaken by lower-echelon managers to flesh out strategically significant aspects for the company's business and functional area strategies.

Four Levels of Strategy


In diversified, multibusiness companies, the strategy-making task involves four distinct types or levels of strategy: corporate strategy for the company as a whole, business strategy (one for each business the company has diversified into), functional-area strategies within each business, and operating strategies. Typically, the strategy-making task is more top-down than bottom-up, with higher-level strategies serving as the guide for developing lower-level strategies.


Implementing and executing the chosen strategy efficiently and effectively. 


Managing the implementation and execution of strategy is an operations-oriented (Marketing, Production, Sales, Distribution and Service), make-things-happen activity aimed at shaping the performance of core business activities in a strategy-supportive manner. Management's handling of the strategy implementation process can be considered successful if  the company meets or beats its strategic and financial performance targets and shows good progress in achieving management's strategic vision.


Evaluating performance and initiating corrective adjustments in vision, long-term direction, objectives, strategy, or execution in light of actual experience, changing conditions, new ideas, and new opportunities.

This phase of the strategy management process is the trigger point for deciding whether to continue or change the company's vision, objectives, strategy, and/or strategy execution methods.

A company's strategic vision plus its objectives plus its strategy equals a strategic plan for coping with industry and competitive conditions, outcompeting rivals, and addressing the challenges and issues that stand as obstacles to the company's success.

Activities -  The Managers have to do


Successful managers have to do several things in leading the drive for good strategy execution and operating excellence.

First, they stay on top of things. They keep a finger on the organization's pulse by spending considerable time outside their offices, listening and talking to organization members, coaching, cheerleading, and picking up important information.

Second, they are active and visible in putting constructive pressure on the organization to achieve good results. Generally, this is best accomplished by promoting an esprit de corps that mobilizes and energizes organizational members to execute strategy in a competent fashion and deliver the targeted results.

Third, they keep the organization focused on operating excellence by championing innovative ideas for improvement and promoting the use of best practices to ensure value creating activities are performed in a first-rate fashion.

Fourth, they exert their clout in developing competencies and competitive capabilities that enable better execution.

Fifth, they serve as a role model in displaying high ethical standards, and they insist that company personnel conduct the company's business ethically and in a socially responsible manner. They demonstrate unequivocal and visible commitment to the ethics enforcement process.

Sixth and finally, when a company's strategy execution effort is not delivering good results and the organization is not making measured progress toward operating excellence, it is the leader's responsibility to step forward and push corrective actions.

Role of The Company Board


Boards of directors have a duty to shareholders to play a vigilant role in overseeing management's handling of a company's strategy-making, strategy-executing process. A company's board is obligated to (1) critically appraise and ultimately approve strategic action plans; (2) evaluate the strategic leadership skills of the CEO and others in line to succeed the incumbent CEO; (3) institute a compensation plan for top executives that rewards them for actions and results that serve stakeholder interests, most especially those of shareholders; and (4) ensure that the company issues accurate financial reports and has adequate financial controls.





References






Updated 6 Dec 2021,  1 September 2021,  29 June 2020,  25 October 2017,  13 August 2016,  21 May 2012
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November 29, 2021

Metaverse of Education and Learning Experiences


The metaverse (a combination of "meta-" and "universe") is a hypothesized iteration of the internet, supporting persistent online 3-D virtual environments through conventional personal computing, as well as virtual and augmented reality headsets. Metaverses, in some limited form, are already present on platforms like VRChat or video games like Second Life.

Current metaverse ambitions are centered on addressing technological limitations with modern virtual and augmented reality devices, as well as expanding the use of metaverse spaces to business, education, and retail applications. Numerous entertainment and social media companies have invested in metaverse-related research and development.

https://en.wikipedia.org/wiki/Metaverse



A Metaverse Learning Model for Creating Participant-Centered Environments

Published on November 12, 2021


Karl Kapp

Prof. Instructional Technology, Founder L&D Learning Academy, Co-founder Enterprise Game Stack


My first foray into the metaverse was back in 2006 into the strange world of Second Life. Then I got a little more "corporate" and jumped into the metaverse of Proton Media's Protosphere. The founder of Proton Media was a pioneer named Ron Burns.

https://www.linkedin.com/pulse/metaverse-learning-model-creating-environments-karl-kapp/


2021
It’s Time To Reinvent Corporate Learning: Join Our New Research
BY JOSHBERSIN · NOVEMBER 8, 2021

Changes have taken place.

The Corporate Universities of the last decade were replaced with digital learning academies of the last five years, soon to be replaced with learning in the flow of work, skills-based capability academies, and a new Metaverse of learning experiences. Already companies like STRIVR, Mursion, and Microsoft have delivered proven VR and AR solutions that drive more value than we ever thought possible.

The educational ‘metaverse’ is coming

29 October 2021

Kwang Hyung Lee

Korea Advanced Institute of Science and Technology (KAIST)

We aim to go beyond online education by creating a “metaverse” that provides assistance for running classes and creates an immersive learning experience that runs the gamut of campus activities while using the latest digital technologies.

https://www.timeshighereducation.com/campus/educational-metaverse-coming











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November 26, 2021

Empower Your Followers to Become More Powerful

 

The number of followers and their extra energy makes you more powerful.

Empowerment, sharing of the power that you acquired with your followers to make them more powerful will increase their energy. Power is not a finite resource and by sharing it you can increase your power and also combined power.  


Why Leaders Resist Empowering Virtual Teams

Many remote leaders who feel constrained, drained, and isolated are just getting in their own way.

Payal N. Sharma, Lauren D’Innocenzo, and Bradley L. Kirkman

October 13, 2021

https://sloanreview.mit.edu/article/why-leaders-resist-empowering-virtual-teams

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November 13, 2021

MTM - PMTS for Human Effort Industrial Engineering - Human Work Systems Design

 


MTM Work Systems Design

MTM is a tool for describing, structuring, designing and planning working systems with the help of defined process building blocks.


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https://www.youtube.com/watch?v=p8aAx-5XnRA&t=114s

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October 16, 2021

Offensive Strategies in Strategic Management

 

Fundamentals of Strategic Management' 2007 Ed.

Front Cover

N. Orcullo

Rex Bookstore, Inc., 2007 - Strategic planning - 302 pages

Offensive Strategies - Page 239

https://books.google.co.in/books?id=xr64aks8wCEC&pg=PA239#v=onepage&q&f=false



Offensive and Defensive Marketing: Closed-Loop Duopoly Strategies

Gary M. Erickson

Marketing Letters

Vol. 4, No. 4 (Oct., 1993), pp. 285-295 (11 pages)

https://www.jstor.org/stable/40216310?seq=1#metadata_info_tab_contents

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